"Dana Gas" receive payments from Egypt and Kurdistan worth 83 million dollars

[yota691]

"Dana Gas" receive payments from Egypt and Kurdistan worth 83 million dollars 

19 Show    October 25, 2014 13:56

 

(Almstlqh) ... Dana Gas for receiving the sum of $ 83 million USD (307 million dirhams) in the past few weeks, according to a statement posted on the Abu Dhabi Financial.

The company has won 47 million dollars (174 million dirhams) versus dues in Egypt, of which 36 million dollars (133 million dirhams) in Egyptian pounds to pay off the arrears to Mzoada services for operations in Egypt. The remaining amount of $ 11 million (AED 40.7 million) in funding for an agreement to increase the production of gas, which was announced recently, which provides for reinvestment amounts received in this project in Egypt.

For Dana Gas operations in the Kurdistan region of Iraq has received the amount of the company's provider of $ 18 million (AED 66.6 million) as part of its share of 40% in the joint venture with Pearl Petroleum in the Kurdistan region of Iraq. This amount is the result of the start of sales of Pearl Petroleum condensate and liquefied petroleum gas, which represents the amount of cash in return for guaranteed delivery of the company's products in the future.

Dana Gas has completed the sale of 25% of the remaining shares in the Hungarian company MOL, as part of liquidity management in the company for gross proceeds of $ 18 million dollars (66.6 million dirhams). (End)